"It has been the greatest privilege to serve Manchester United for 16 wonderful years -- the last 10 of which as its chief executive," said Gill, who joined United as finance director in 1997.

Clash of the titans 6 photos

Clash of the titans6 photos

Welcome break – After a rocky opening period in which Real hit the post, United shocked the home crowd by taking a 20th minute lead through Danny Welbeck. The England striker rose highest to meet Wayne Rooney's corner and head the ball inside the far post to spark wild celebrations amongst the visiting supporters.

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Clash of the titans6 photos

Jumping for joy – Welbeck dances away in celebration after firing United ahead, while most of the crowd look on in stunned silence.

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Clash of the titans6 photos

Guess who? – It had to happen, didn't it? That man Cristiano Ronaldo leveled for Real against his former club with an unstoppable 30th minute header after climbing high above Patrice Evra and Jonny Evans.

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Clash of the titans6 photos

Ronaldo's muted celebration shows the respect he still holds for his former employers. The Portuguese star, who joined Real for a world record fee of $124 million back in 2009, was at the heart of everything positive about his team's performance.

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Clash of the titans6 photos

United miss out – United's Robin van Persie had two glorious opportunities to win the game for United in the second half, one which was turned onto the crossbar by Diego Lopez and another which was kicked off the line by Xabi Alonso.

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Clash of the titans6 photos

Pointing the way – Real manager Jose Mourinho was left frustrated after his side dominated for long periods but failed to find a winner. In the end, the home side was indebted to a couple of fine saves from Diego Lopez to keep the scoreline level.

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Man Utd move 12 points clear 4 photos

Man Utd move 12 points clear4 photos

Van Persie pounces – Robin van Persie celebrates after scoring Manchester United's second goal in the 2-0 win at home to Everton, which put his team 12 points clear in the English Premier League.

Evergreen Giggs – Veteran Ryan Giggs scored a 13th-minute opener, meaning the 39-year-old has now been on target for each of last 23 league seasons.

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Man Utd move 12 points clear4 photos

Munich remembered – Before the match, United fans held aloft a banner honoring the victims of the 1958 Munich Air Disaster,which killed eight of the club's players among 23 dead.

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"However, I have always been conscious of the fact that, as a member of staff, I was always just a temporary custodian of this marvelous institution," added Gill, who will remain a director at the club.

"I am also of the view that all businesses need to refresh themselves with new management and ideas and after 10 years in charge I believe it is appropriate for someone new to pick up the baton."

United co-chairman Joel Glazer said: "David has played a significant role in the success of Manchester United in his 10 years as chief executive and he can take great satisfaction in all that has been achieved on his watch, both on and off the field."

Since Gill became CEO in 2003, United have won four English Premier League titles, the 2004 FA Cup and the European Champions League in 2008.

All of those titles have been won under the club's iconic manager Alex Ferguson, who has been in charge at Old Trafford since 1986.

The man who saved Manchester United -- twice 8 photos

The man who saved Manchester United -- twice8 photos

Storm clouds – Today Manchester United has an aura of glamor and invincibility. But in 1931 and 10 years later the club's future was in peril.

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The man who saved Manchester United -- twice8 photos

Gibson Guarantee – James Gibson, a wealthy Manchester United supporter who had made his fortune in making uniforms for tram drivers, is credited with saving the club from extinction after taking over in 1931 and helping United navigate its financial troubles.

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The man who saved Manchester United -- twice8 photos

Dreams destroyed – Old Trafford, home of Manchester United, was blitzed during a raid by the Luftwaffe on March 11 1941. The stadium was obliterated and left the club homeless. All of Gibson's hard work had been undone in a single night. United agreed a deal to play its home matches at Maine Road, home of rival Manchester City, until Old Trafford was rebuilt in 1949.

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The man who saved Manchester United -- twice8 photos

All aboard – Gibson and his wife Lillian, had a train named after the football club. Gibson ensured supporters had a far smoother journey to Old Trafford after having steps built up from the local train station to the stadium, while he also had trains make unscheduled stops to help fans make it in time for kick off.

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The man who saved Manchester United -- twice8 photos

Man Utd's "Holy Trinity" – A statue of George Best, Denis Law and Bobby Charlton, which stands outside Old Trafford, depicts three of the club's greatest players. If it wasn't for Gibson, it is arguable the trio would never have pulled on the red of Manchester United.

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The man who saved Manchester United -- twice8 photos

Busby brilliance – Matt Busby, who was appointed by Gibson as manager, went on to win the 1968 European Cup, four league titles and two FA Cups. He survived the Munich Air Crash of 1958, where many of his players perished. After his recovery, he helped rebuild the team and lay foundations for the future.

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The man who saved Manchester United -- twice8 photos

Ferguson legacy – Busby's success has been built on by current United manager Sir Alex Ferguson. It was under Ferguson that United won their19th English League overtaking Liverpool's record of 18.

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The man who saved Manchester United -- twice8 photos

Striking swagger – United have established a buccaneering style of play, which this season has been epitomised by forward Robin van Persie, who is pictured here celebrating with Danny Welbeck. Since joining United from Arsenal in the summer, Van Persie has scored 16 English Premier League goals.

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Spain dominates football's rich list 11 photos

Spain dominates football's rich list11 photos

Leading the way –

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Spain dominates football's rich list11 photos

Real deal – Real Madrid star Cristiano Ronaldo has become an integral part of the club's success both on and off the pitch with the Spanish giant leading the Football Money League table for the eighth year in a row.

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Spain dominates football's rich list11 photos

Barca brand – Leo Messi's goals and success has been key to Barcelona's ability to draw in fans and broadcasters at will. It is the fourth year in a row that the club has finished second in the Football Money League table behind arch-rival Real Madrid.

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Spain dominates football's rich list11 photos

United on course – Robin van Persie, a $38 million summer signing, has helped Manchester United reach the top of the Premier League as it looks to wrestle the title back from rival Manchester City. United, which has recently signed a record shirt deal with General Motors, has been tipped to overhaul the top two over the coming years.

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Spain dominates football's rich list11 photos

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Spain dominates football's rich list11 photos

Bavarian bonus – Bayern Munich, which recently appointed Pep Guardiola as its new manager for the 2013/14 season, remain in fourth position. The German giant reached the Champions League final last season where it was beaten by Chelsea.

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Spain dominates football's rich list11 photos

Spain dominates football's rich list –

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Spain dominates football's rich list11 photos

Chelsea chasing – European Champions League holder Chelsea is fifth in the money list. The London club has spent big money in recent years including the $80 million purchase of Spain striker Fernando Torres.

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Spain dominates football's rich list11 photos

Looks who's watching –

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Spain dominates football's rich list11 photos

Arsenal up there – .Arsenal stays sixth in the table despite it's failure to win a single trophy since 2005. The club has also seen big name departures with Cesc Fabregas joining Barcelona and Robin van Persie moving to Manchester United

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Spain dominates football's rich list11 photos

City slickers – Manchester City's Premier League title win catapulted the club up the Football Money League table and into seventh position. City's revenue grew to $452.6 million, the largest absolute and relative growth of any Money League club.

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"I have been at United for over 26 years and for 23 of those years my boss has been one of only two men: Martin Edwards, who brought me to the club, and David Gill. I have enjoyed working with both," said Ferguson.

"David has been a magnificent chief executive. Of course, we have had a million arguments, but I have always enjoyed them because I know that David has two great qualities: he is straight and he always puts Manchester United first.

"He has been, and will continue to be, a fantastic success for Manchester United. He has all the qualities of successful people engrained in him: energy, honesty, integrity, personality and decision-making ability."

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A group of fans formed a breakaway team called FC United of Manchester, which now plays in the seventh tier of English football.

By way of protest, a number of fans began wearing green and yellow scarves to the team's home games, the colors of the Newton Heath club from which Manchester United was formed.

United currently lead the Premier League table by 12 points from cross-city neighbors Manchester City with just 12 matches of the season remaining.

Ferguson's team are also still in the Champions League and are level at 1-1 with Real Madrid ahead of the second leg of their second-round tie on March 5.

After reaching the quarterfinals of the FA Cup with victory over Reading on Monday, United's current squad could emulate the team of 1999 which won an unprecedented Premier League, FA Cup and Champions League treble.